THE Makhteshim Agan Industries Group (MAI), a leading global manufacturer and distributor of branded off-patent crop protection solutions, announced the completion of its acquisition of Magan Agrochemicals Serbia, a marketing and distribution company located in Subotica, Serbia.
Magan now will be a wholly owned subsidiary of MAI. The acquisition is in line with MAI's strategic direction to deepen its market reach in key emerging geographies.
"The acquisition of Magan, a leader in the Serbian agro sector, provides MAI with a strong platform to build out our existing business activities in Serbia and the Adriatic region," said Anders Harfstrand, chief executive officer of MAI's Europe region. "We view Serbia as a very promising market for the sale of our crop protection products. As with other European markets in which we have created a strong presence, we believe that the Serbian agro sector will respond favorably to MAI's broad portfolio of quality products and top-quality service, as well as our on-the-ground sales teams that provides farmers with the solutions they require to overcome their crop protection challenges."